Electric,
All of the HiTech indexes are now overbought severely and most of them were CLASS 1 SELLS to be obtained at the highs today.
Since the HiTechs barely pulled back at all today (NAZ only down 2 points), if there is any positive position or close to today's close, I think they will be playable with PUTS.
One of the reason's I did not get in was also due my having a losing position with my XAL PUTS and with MSFT announcing after hours, I did not want to have a situation whereby I would have 2 negative positions in case the HiTechs started to technically breakout.
I do think the key is their conference call, with Asia being mentioned. As for tomorrow, I would think the the NAZ should be down, but there may be a chance to get in near today's closing prices. The downside will still be substantial enough if the NAZ does not tank right at the open.
Just in case the market is up (unlikely), then it would just be that much better to get in.
I am looking at the IIX, XCI, NDX, MSH as possible PUT candidates along with MSFT it it doesnt tank right from the start.
Dont have the futures yet or any idea how MSFT is doing in after hours trading.
Seeya |
